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Update news casino businesses in vietnam
A new resolution permits eligible Vietnamese to enter casinos in Phu Quoc, Ho Tram, and Van Don under strict pilot regulations.
Quang Ninh province on August 15 issued Decision No. 3226/QD-UBND, approving Sun Van Don JSC – a member of Sun Group – as the investor to implement the Van Don Integrated Casino & Tourism Complex – the piloting casino complex for Vietnamese.
A USD2 billion mega resort is set to transform Van Don into a premier gaming destination.
The Ministry of Finance has proposed that Vietnamese citizens wishing to enter casinos must purchase an entry ticket, priced at 2.5 million VND ($100) per 24-hour period or 50 million VND ($2,000) per month.
The Ministry of Finance is tasked with reviewing mechanisms to develop Phu Quoc and evaluate post-trial continuation of casino access for Vietnamese citizens.
The casino project is designed as a high-end resort and entertainment complex with gaming, aiming to host international events and become a leading regional and global destination.
The Vietnamese government is extending the pilot programme to allow Vietnamese to gamble in casinos.
The trial period permitting Vietnamese citizens to play at select casinos has been extended until December 31, 2024, with the Phu Quoc casino project showing mixed financial results during the pilot phase.
The Ministry of Finance has reported on the casino business situation in Vietnam, indicating that the pilot project allowing Vietnamese individuals to gamble is experiencing financial losses due to a decreasing number of players.